Credit card fraud forced a Montreal businessman to close his online business, and he blames his bank for letting it happen.
Thieves, using stolen credit cards, bought thousands of dollars worth of cell phone and computer parts from Vincenzo Lingordo’s web site, the now-defunct Lingordoiparts.com
Lingordo said the purchases were approved by TD Canada Trust, even though key information was missing from the online transactions or not entered at all.
“Their system should be able to match the info and be able to pass or decline the transaction, not me,” said Lingordo. “So what is secure here?”
By the time the bank notified Lingordo about each fraud — in some cases, weeks later — he’d already shipped the goods.
“You’re trusting a good service from a good bank,” Lingordo said.
When payments continued to be made with stolen cards which weren’t immediately flagged by the bank’s transaction software, Lingordo said his …